ICSID Committee Refuses To Annul Award Dismissing BIT Claims Against Turkey

(January 25, 2016, 9:09 AM EST) -- WASHINGTON, D.C. — After finding that a tribunal for the International Centre for Settlement of Investment Disputes (ICSID) gave sufficient reasons when it found that a real estate investment trust's actions could not be attributed to the Republic of Turkey, an ad hoc committee on Dec. 17 refused a real estate and development company's application to annul the award (Tulip Real Estate Investment and Development Netherlands B.V. v. Republic of Turkey, No. ARB/11/28, ICSID).

(Decision available. Document #05-160126-017X.)

Treaty Claims

In October 2011, Tulip Real Estate...
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